TikTok explores peer-to-peer money transfers via direct messaging

TikTok is exploring the implementation of a peer-to-peer money transfer feature directly within its private messaging interface. Code discovered in the U.S. iPhone version of the app suggests users could send and receive funds without leaving the platform, a move that would expand the company's presence in the financial services sector.

According to reports from Bloomberg, the feature is currently in development. A TikTok spokesperson stated that the capability is not being tested in any specific market at this time, meaning its eventual release to users remains uncertain. If implemented, the system would function similarly to services like Venmo, allowing senders to include notes with their payments and providing real-time notifications to both parties regarding the transaction status.

This potential expansion is linked to TikTok Pay, which is already operational in Southeast Asian countries including Thailand, Vietnam, and Malaysia for TikTok Shop purchases. Additionally, parent company ByteDance operates Douyin Pay in China. The move reflects a broader industry trend where social media platforms aim to evolve into comprehensive ecosystems, similar to the development of X Money.